Changfeng Announces Partnership with Guangdong Natural Gas Grid Co., Ltd. and Visit of Canadian Ambassador at the Sanya Office
TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- Changfeng Energy Inc., (TSXV:CFY) (“Changfeng” or the “Company”), an energy service provider in China, is pleased to announce the following:
Guangdong Natural Gas Grid Co., Ltd. Partnership
Changfeng and Guangdong Natural Gas Grid Co., Ltd. (“Guangdong Grid”) signed a memorandum of understanding in April 2018 to jointly pursue natural gas pipeline projects in the Guangdong Province, the PRC. According to the Chinese government’s 13th five-year plan, Guangdong Grid must construct the natural gas trunk pipelines for 21 cities in the Guangdong Province and achieve full pipeline coverage by 2020. A task team has been established by Changfeng and Guangdong Grid to finalize the details of the partnership with the intention of creating a joint venture for the development, investment, and operation of city natural gas projects in the Guangdong Province.
Canadian Ambassador Visits Sanya Office
On April 28th, John McCallum, Ambassador of Canada to the PRC visited the Changfeng Sanya office. Mr. McCallum expressed gratitude for Changfeng’s efforts in clean technology and contributions in the Canadian community, including Changfeng’s donations in the Fort McMurray incident.
Guangdong Natural Gas Grid Co., Ltd.
Guangdong Grid was established in March 21, 2008, in Guangdong Province, the PRC. Guangdong Grid is a joint venture of the China National Offshore Oil Corporation, the Sinopec Group, PetroChina Company Limited and the Guangdong Yudean Group Co., Ltd., with a registered capital of RMB100 million. Guangdong Grid was formed with the purpose of establishing a province wide network of natural gas trunk pipelines by 2020. The Guangdong pipeline network is more than 3,100km in length, with a total planned investment of RMB470 billion. The reach of the Guangdong pipeline network includes the Pearl River Delta, eastern Guangdong, northern Guangdong, and the four regional Western Guangdong pipe networks to cover 21 cities in the Guangdong Province over the city-level natural gas distribution network, reaching annual gas transmission capacity of 60 billion cubic meters.
Guangdong Grid Website: https://www.gdngg.com.cn
About Changfeng Energy Inc.
Changfeng Energy Inc. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the People’s Republic of China. Changfeng strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, Changfeng was recognized as being one of China’s the Top Ten Most Influential Brands in the Natural Gas Industry.
CONTACT INFORMATION
Corporate Investment Relations
Investor.relations@changfengenergy.cn
Ann Siyin Lin
VP, Corporate Development
ann.lin@changfengenergy.cn
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future. These Forward-Looking statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon.
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A photo accompanying this announcement is available at https://resource.globenewswire.com/Resource/Download/eac0b526-c7a1-4474-8d8a-4ef40ef7453c